Justin Dowa, Dawn Properties Limited Chief Executive Source: Biglaw IR

Published: 31 March 2014

Dawn Properties Limited, which has gradually come under the orbit of new investors under the Brainworks banner, has put some of its prime properties - Great Zimbabwe Hotel, Hwange Safari Lodge and the swanky Elephant Hills resort - under the hammer, with market watchers noting that the grand project of the new investors being led by businessman Stewart Cranswick is coming full circle.

Brainworks Capital Management, through its subsidiary Lengrah Investments - fronted by Cranswick - has, after a series of transactions, managed to acquire a 45% stake in African Sun (formerly Zim Sun Hotels) and 28.4% equity in Dawn Properties.

With Lengrah strategically positioned in the two entities, market rumours suggest that they might be soon rebundled into a single entity.

Cranswick lost out on Zim Sun, which used to be a subsidiary of Delta Corporation when the hotelier, together with OK and Pelhams, was unbundled in 2002 following the reorganisation of the business.
- Sunday Mail

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